NGOs will have to reveal details of foreign aid to I-T

All non-governmental organizations (NGOs) and charitable trusts will now have to compulsorily file details of foreign contributions received in their Income Tax returns along with their Foreign Contributions Regulation Act (FCRA) number. A revised I-T return form has been prepared by the Directorate General of I-T Exemption and is pending with the Central Board of Direct Taxes for final approval before it is notified for implementation, likely from the next financial year. The new return form for NGOs will have additional columns for mentioning FCRA number and another for details of overseas contributions received. So far there was only one return form that was applicable for all NGOs and trusts, including non-charitable trusts that were not qualified for exemptions.

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